#United States #New York #Class Action #Celsius Holdings #Pomerantz LLP

Celsius Holdings Shareholder Alert

Celsius Holdings, Inc., a popular brand in the beverage sector, is currently embroiled in a class action lawsuit concerning allegations of securities fraud and questionable business practices. This legal notice is particularly relevant for shareholders who have incurred losses in their investments with the company. Pomerantz LLP, a law firm renowned for its expertise in corporate and securities class litigation, is leading the charge in this matter, which has significant implications for stakeholders.

Overview of the Legal Action

The class action lawsuit against Celsius was filed in the U.S. District Court. The crux of the lawsuit is whether certain officers and directors of Celsius engaged in unlawful practices that misled investors. Shareholders who acquired Celsius securities during the class period—up to January 21, 2025—are encouraged to reach out to Pomerantz LLP. Interested parties can initiate contact via Danielle Peyton at [email protected] directly or through their toll-free line.

Allegations and Financial Summary

Recent events have raised concerns over Celsius’ financial performance. Notably, the company recently reported a significant drop in revenue for the third quarter of 2024, with overall earnings falling to around $265.7 million, compared to $384.8 million during the same period last year. This 31% decline has been a critical factor contributing to investor skepticism and the ensuing legal actions. Furthermore, the company revealed that North American revenues decreased by 33%, leading to a further decline in stock value as the news spread.

On September 4, 2024, investors reacted sharply when Celsius disclosed a steep reduction in orders from Pepsi, a key partner, indicating an internal struggle to maintain sales momentum. Analysts noted a troubling trend: Celsius products were seeing a year-over-year price drop of 7.2%, alongside a slowdown in sales growth that had previously been robust.

Stock prices reflected this turmoil, dropping over 11% in a single day as investors digested the implications of the reduced orders and slower sales growth. This decline prompted shareholders to reconsider their positions and has now spurred the class action lawsuit initiated by Pomerantz LLP.

Important Deadlines

Shareholders are urged to take action before the approaching deadline of January 21, 2025, for the appointment of a Lead Plaintiff in the lawsuit. Those interested should ensure they provide necessary details such as their mailing address and the number of shares they purchased when reaching out to Pomerantz LLP. The firm has made it clear that they are willing to represent those who have suffered losses.

Legal Firm Background

Pomerantz LLP has a storied history in handling class action lawsuits and has recovered billions in damages for victims of securities fraud and corporate misconduct. Sensitized to the risks posed by misleading corporate practices, Pomerantz aims to hold accountable those responsible for eroding shareholder equity.

For further details regarding the complaint, shareholders can visit Pomerantz’s website where documents pertaining to the case are made available.

In conclusion, shareholders of Celsius Holdings need to be aware of these developments and the potential impact on their investments. Engaging with legal advisories to understand their rights is crucial in navigating this period of uncertainty as the class action progresses.